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FxWirePro: Aussie trades marginally lower after RBA’s monetary policy meeting minutes

AUD/NZD is currently trading around 1.1076 marks. Pair made intraday high at 1.1093 and low at 1.1067 marks. Intraday bias remains slightly bearish till the time pair holds key resistance at 1.1086 mark. A sustained clos…

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FxWirePro: Aussie trades marginally lower after RBA’s monetary policy meeting minutes
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  • AUD/NZD is currently trading around 1.1076 marks.
     
  • Pair made intraday high at 1.1093 and low at 1.1067 marks.
     
  • Intraday bias remains slightly bearish till the time pair holds key resistance at 1.1086 mark.
     
  • A sustained close above 1.1086 will drag the parity higher towards key resistances at 1.1116/1.1163/1.1238/1.1289/1.1384/1.1456 levels respectively.
     
  • Alternatively, a daily close below 1.1086 will take the parity down towards key supports around 1.0989, 1.0930, 1.0873, 1.0798, 1.0737 and 1.0693 marks respectively.
     
  • Australia's S&P/ASX 200 index up 0.27 pct at 5,961.70 points in early trade.
     
  • RBA expected GDP growth of around 3 pct over next few years, subdued productivity.
     
  • RBA - Any further rise in A$ would slow expected pick-up in inflation, economy.
     
  • RBA minutes - Board judged steady policy consistent with inflation, growth goals.
     
  • RBA - Competitive pressures on retail margins and costs expected to last for some while.

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